Traders Purchase High Volume of Call Options on Robinhood Markets (NASDAQ:HOOD)

Robinhood Markets, Inc. (NASDAQ:HOOD) was the target of some unusual options trading activity on Friday. Stock traders acquired 614,113 call options on the company. Thisrepresentsanincreaseof35% compared to the average volume of 453,415 call options.

Insider Activity

In other Robinhood Markets news, Director Baiju Bhatt sold 418,338 shares of Robinhood Markets stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $109.39, for a total value of $45,761,993.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Steven M. Quirk sold 60,113 shares of the company’s stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $100.91, for a total value of $6,066,002.83. Following the transaction, the insider directly owned 94,454 shares in the company, valued at approximately $9,531,353.14. The trade was a 38.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,767,854 shares of company stock valued at $569,828,413 over the last 90 days. 14.47% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of HOOD. HighTower Advisors LLC lifted its stake in shares of Robinhood Markets by 6.4% in the 1st quarter. HighTower Advisors LLC now owns 50,264 shares of the company’s stock valued at $2,092,000 after purchasing an additional 3,032 shares during the period. TD Private Client Wealth LLC raised its position in shares of Robinhood Markets by 184.4% in the first quarter. TD Private Client Wealth LLC now owns 1,829 shares of the company’s stock worth $76,000 after acquiring an additional 1,186 shares during the period. Wellington Management Group LLP boosted its stake in shares of Robinhood Markets by 3.1% during the 1st quarter. Wellington Management Group LLP now owns 16,261 shares of the company’s stock worth $677,000 after acquiring an additional 486 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its position in shares of Robinhood Markets by 125.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 19,201 shares of the company’s stock valued at $799,000 after acquiring an additional 10,703 shares during the period. Finally, Wealthcare Advisory Partners LLC purchased a new position in shares of Robinhood Markets in the 1st quarter valued at about $277,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Morgan Stanley upped their target price on Robinhood Markets from $43.00 to $110.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 15th. Compass Point upped their price objective on shares of Robinhood Markets from $64.00 to $96.00 and gave the company a “buy” rating in a report on Friday, June 27th. The Goldman Sachs Group increased their price objective on shares of Robinhood Markets from $91.00 to $104.00 and gave the company a “buy” rating in a research report on Monday, July 7th. JMP Securities boosted their target price on shares of Robinhood Markets from $125.00 to $130.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods raised their price target on shares of Robinhood Markets from $89.00 to $106.00 and gave the stock a “market perform” rating in a report on Thursday, July 31st. Eleven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Robinhood Markets presently has a consensus rating of “Moderate Buy” and a consensus price target of $100.31.

Robinhood Markets Price Performance

Shares of Robinhood Markets stock opened at $101.25 on Friday. The stock has a market cap of $89.98 billion, a PE ratio of 51.40, a price-to-earnings-growth ratio of 3.77 and a beta of 2.36. The firm has a fifty day moving average price of $103.72 and a 200 day moving average price of $71.23. Robinhood Markets has a 1 year low of $18.71 and a 1 year high of $117.70.

Robinhood Markets (NASDAQ:HOOD) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The company had revenue of $989.00 million for the quarter, compared to the consensus estimate of $893.93 million. Robinhood Markets had a return on equity of 17.48% and a net margin of 50.13%.The firm’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same period last year, the firm earned $0.21 EPS. As a group, equities analysts expect that Robinhood Markets will post 1.35 EPS for the current year.

Robinhood Markets Company Profile

Robinhood Markets, Inc operates financial services platform in the United States. Its platform allows users to invest in stocks, exchange-traded funds (ETFs), American depository receipts, options, gold, and cryptocurrencies. The company offers fractional trading, recurring investments, fully-paid securities lending, access to investing on margin, cash sweep, instant withdrawals, retirement program, around-the-clock trading, and initial public offerings participation services.